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Business

IT budgets in Brazil to increase in 2018

Technology decision makers in the private sector remain confident, says research.
Written by Angelica Mari, Contributing Writer on

Investments in private sector technology will continue to increase in Brazil this year, according to research.

Of the 1,500 IT decision makers in medium and large-sized organizations polled by Brazilian analyst firm IT4CIO, 51 percent said their budgets will increase this year, while 23 percent will see a decrease.

It is expected there will be a 5 percent increase in technology budgets overall in 2018, the study says.

By comparison, IT budgets in Brazil saw a 3.1 percent overall increase in 2017, slightly over the inflation rate projected for the year, of 2.8 percent. According to the research, now in its thirteenth year, this is due to the decrease of 2.1 percent seen in government IT budgets.

In 2018, projects related to IT automation, cloud computing, data analytics, information security, artificial intelligence and Internet of Things will be prioritized, according to the study.

With the improvement of the local economy, investments in infrastructure refreshes will also grow in 2018, compared to the last three years when there was an overall investment freeze in that front.

But business will remain challenging for technology suppliers in Brazil, as 66 percent of technology decision makers will be looking at revising their contracts with their vendor base.

In addition, 19 percent of the CIOs polled said they will be looking for senior hires in 2018. This contrasts with 12 percent of respondents who said they will have to hire professionals at lower rates due to a lingering uncertainty.

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